Aquafeed Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Aquafeed Additives Market segmented based on Species Type- ( Fish, Mollusks, Crustaceans, and others), Additives Type- (Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders, and others) and Geography

Aquafeed Additives Market Size

Aquafeed Additives Market Size
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Study Period 2019 - 2029
Market Size (2024) USD 2.56 Billion
Market Size (2029) USD 3.74 Billion
CAGR (2024 - 2029) 7.90 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Aquafeed Additives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aquafeed Additives Market Analysis

The Aquafeed Additives Market size is estimated at USD 2.56 billion in 2024, and is expected to reach USD 3.74 billion by 2029, growing at a CAGR of 7.90% during the forecast period (2024-2029).

Aquafeed additives are rich sources of proteins and omega 3 fatty acids. These additives are added to aquafeed to enhance the feed quality and prevent infections in fish caused by parasites. Controlling parasites during fish farming is highly important as it can lead to economic losses. These additives provide benefits such as healthy growth, improved immunity system, enhance feed conversion, and reduce the mortality rate of aquafeed. Thus increasing awareness among the manufacturers regarding the additives will boost up the market. For instance, Aquafeed additives such as palatants and feed acidifiers, in several cultivar species such as carp, tilapia, salmon and catfish, especially in emerging economies, are witnessing huge demand. This will add a complementary growth during the forecast period.

Aquafeed Additives Market Trends

This section covers the major market trends shaping the Aquafeed Additives Market according to our research experts:

Increase in Fish Consumption

According to the Food and Agriculture Organization of the United Nations ( FAO), in per capita terms, global food fish consumption grew from 9 Kg in 1961 to 20.2 Kg in 2015, representing an average expansion rate of 1.5 percent per annum. In 2016 and 2017, the consumption rate was 20.3 Kg and 20.5 Kg respectively. The dramatic rise and emergence of aquaculture in the global market place, coupled with the increased nutritional awareness among consumers, spurred the sales of compound feed and feed additives globally. For instance, fish consumption in Asian countries, particularly eastern and southeastern Asia, has been driven by a combination of large, growing and increasing urban population, dramatic expansion of fish production, rising international fish trade and increasing disposable income will drive the aquafeed additive market during the forecast period.

Aquafeed Additives Market Share

North America Dominates the Market

North America dominates the aquafeed additive market as the production is projected to increase with increase in seafood consumption in countries like Canada and The U.S. Increase consumption of species such as salmonids and mollusks are majorly contributing to the growth. North America serves both International as well as domestic markets. Demand for aquafeed additives in Europe market increasing over the past decades majorly focusing on the region like Ireland, Denmark, and Norway. The Asia Pacific will witness a higher growth rate in the upcoming decades. Cheap labor, abundance availability of resources, owing to favorable climatic conditions and increase awareness of the nutrition associated with additives will gear up the market during the forecast period.

Aquafeed Additives Market Growth

Aquafeed Additives Industry Overview

The aquafeed additive industry is a fragmented market, with the top 5-6 companies accounting for almost 40% of the market share. These companies are targeting countries in most parts of the world for business expansion, either by investing in new production units or acquiring established small players in specific regions. The investment in R&D activities to introduce new and efficient products is another strategy adopted by manufacturers to stay ahead of their competition in the matured markets of North America and Europe.

Aquafeed Additives Market Leaders

  1. Thai Union

  2. Inve Aquaculture

  3. Growel Feeds Pvt Ltd

  4. BASF

  5. Cargill

*Disclaimer: Major Players sorted in no particular order

Thai Union, Inve Aquaculture, Growel Feeds Pvt Ltd, BASF, Cargill
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Aquafeed Additives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Species Type

      1. 5.1.1 Fish

      2. 5.1.2 Mollusks

      3. 5.1.3 Crustaceans

      4. 5.1.4 Others

    2. 5.2 By Additives

      1. 5.2.1 Vitamins

      2. 5.2.2 Minerals

      3. 5.2.3 Antioxidants

      4. 5.2.4 Amino Acids

      5. 5.2.5 Enzymes

      6. 5.2.6 Acidifiers

      7. 5.2.7 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of the Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Thai Union Group

      2. 6.3.2 Inve Aquaculture Inc.

      3. 6.3.3 Growel Feeds Pvt Ltd

      4. 6.3.4 BASF

      5. 6.3.5 South East Asia Pte Ltd

      6. 6.3.6 Adisseo Asia Pacific Lte

      7. 6.3.7 CP Group

      8. 6.3.8 Cargill incorporated

      9. 6.3.9 Nutreco N.V

      10. 6.3.10 Archer Daniels Midland Company (US)

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Aquafeed Additives Industry Segmentation

The report covers the extensive study of segments and factors driving the growth of the commercial global aquafeed additive market. An in-depth analysis of the futures markets and trends is exclusively measured in this report. Factors driving region-wise analysis are also covered with great observations. The report provides an in-depth analysis of the various parameters of the aquafeed additive market. The aquafeed additive market has been segmented based on species and additives. 

By Species Type
Fish
Mollusks
Crustaceans
Others
By Additives
Vitamins
Minerals
Antioxidants
Amino Acids
Enzymes
Acidifiers
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Rest of the Asia-Pacific
South America
Brazil
Argentina
Rest of South America
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Aquafeed Additives Market Research FAQs

The Aquafeed Additives Market size is expected to reach USD 2.56 billion in 2024 and grow at a CAGR of 7.90% to reach USD 3.74 billion by 2029.

In 2024, the Aquafeed Additives Market size is expected to reach USD 2.56 billion.

Thai Union, Inve Aquaculture, Growel Feeds Pvt Ltd, BASF and Cargill are the major companies operating in the Aquafeed Additives Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Aquafeed Additives Market.

In 2023, the Aquafeed Additives Market size was estimated at USD 2.37 billion. The report covers the Aquafeed Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aquafeed Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Aquafeed Additives Industry Report

Statistics for the 2024 Aquafeed Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aquafeed Additives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Aquafeed Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)